U.S. President Donald Trump hit out at Goldman Sachs CEO David Solomon on Tuesday, saying the bank had been wrong to predict U.S. tariffs would hurt the economy and questioned whether Solomon should lead the Wall Street institution.

President Trump took issue with the Goldman Sachs research team, which initially forecast that stocks would decline this year and the US economy would enter a recession in the wake of Trump's April tariff announcements.

President Donald Trump called for Goldman Sachs CEO David Solomon to replace its chief economist after a prediction that consumers would pay the brunt of the cost for tariffs.